🧵 Facility hosting agreement with Compass Mining terminated | Dynamics Miningnitter.net/DynamicsMining/status/1541262827096358912
330 sats \ 15 comments \ @BTCMiner 27 Jun 2022 bitcoin
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40 sats \ 0 replies \ @2big2fail 27 Jun 2022
compass is a very inefficient operator. from my experience with them on a small scale they have no edge in getting miners racked so it is impossible to estimate an ROI and are really really disorganized (no miner serials no accurate timelines, terrible customer service)
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20 sats \ 0 replies \ @lv99_slacker 27 Jun 2022
👀
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20 sats \ 0 replies \ @BlokchainB 27 Jun 2022
Not to go against the hardcore bitcoiner narrative here but my experience with compass is middle of the road. It’s not awesome but it’s not awful either.
I know not my miner not my hash but getting sats daily is nice. But I’m risking it for the biscuit and In the process supporting a bitcoin business by being a customer.
If they go belly up then I lose and life goes on but if they win then I think it’s a net positive for the whole ecosystem. But I get it people get in their feels when it comes to money
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20 sats \ 0 replies \ @KingZing 27 Jun 2022
Man, I really liked their idea. But I cannot imagine how hard it is for them to deal with all the financials. RIP
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20 sats \ 0 replies \ @Cornholio 27 Jun 2022 freebie
My experience with Compass was very negative. I am more shocked it is not a unique issue.
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0 sats \ 2 replies \ @BTCMiner OP 27 Jun 2022
Compass had recently deleted their Discord server:
Hey #Bitcoin miners 👋 We want to make response times faster! So, we've invested in a pro-scale comms solution.
As part of that decision, we've decided to sunset Discord support.
Here's why 🧵 1/4
https://twitter.com/compass_mining/status/1540413202365923328 https://nitter.net/compass_mining/status/1540413202365923328 <-- Full thread, can be easier to read
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20 sats \ 0 replies \ @BlokchainB 27 Jun 2022
Yea this sucked
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0 sats \ 0 replies \ @BTCMiner OP 27 Jun 2022
@ODELL Was dead on accurate about his concerns surrounding Compass Mining for the last year…
https://twitter.com/BTC_Dumbledore/status/1541299436126556161 https://nitter.net/BTC_Dumbledore/status/1541299436126556161
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5 sats \ 6 replies \ @BTCMiner OP 27 Jun 2022
The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:
Effective June 14th @compass_mining facility hosting agreement in Maine was terminated by @dynamics2k for failure to pay power consumption charges. 6 late payment and 3 non payments. @MiningScandals
[Larger image]
https://Twitter.com/DynamicsMining/status/1541262827096358912
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0 sats \ 1 reply \ @BTCMiner OP 28 Jun 2022
UPDATE
Compass Mining CEO and CFO Resign Amid 'Setbacks and Disappointments' | CoinDesk #39467 https://www.coindesk.com/business/2022/06/28/compass-mining-ceo-and-cfo-resign-amid-setbacks-and-disappointments https://archive.ph/v1Y9Q <-- An archive, which can be easier to read
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0 sats \ 0 replies \ @BTCMiner OP 29 Jun 2022
UPDATE 2
Compass Mining Denies Dynamics Facility Allegations https://compassmining.io/education/compass-mining-denies-dynamics-facility-allegations/
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0 sats \ 3 replies \ @BTCMiner OP 27 Jun 2022
There's another, follow-on, Twitter thread:
For clarity @compass_mining power consumption @dynamics2k totaled $1.2 million and they only paid $415k and $250k initial power deposits. Compass claims that they gave money to @dynamics2k but the money was used to build out their facilities. #truth
[Images]
https://twitter.com/DynamicsMining/status/1541397114189643776 https://nitter.net/DynamicsMining/status/1541397114189643776 <-- Full thread, can be easier to read
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50 sats \ 0 replies \ @BTCMiner OP 27 Jun 2022
Doh! Dynamic Mining has since deleted that Tweet.
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100 sats \ 0 replies \ @BTCMiner OP 27 Jun 2022
The other side of the story
[Larger image]
https://twitter.com/MiningScandals/status/1541280200742150144 https://nitter.net/MiningScandals/status/1541280200742150144 <-- Full thread, can be easier to read
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20 sats \ 0 replies \ @sp 27 Jun 2022 freebie
This is a reminder of why on-chain payments sometimes are useful 😅
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